Finance

In addition, the Finance Officer has been charged by the District Commodore to receive and review all Financial Reports of an Auxiliary Unit (ANSC-7025).  In the event that the Finance Officer notes any questionable items in the financial report submitted, it is his/her responsibility to notify the District Commodore of such item and upon direction by the District Commodore to conduct an audit of the unit funds.

The District Finance Officer is prepared to assist the Division and Flotilla Staff Officers with any questions or problems that they may have in the proper execution of their duties. Such items of assistance may include, but not be limited to, accounting for unit funds, preparation of unit financial statements, providing the correct Federal Identification Number to be used in the opening of bank accounts, audit of unit funds and preparation of budgets and disbursement of unit funds.

Brian Gritte

DSO-FN

 Click on links below for more information:

7025 - Financial Report of a Auxiliary Unit

Auxiliary Financial Controls: Standard Operating Procedures

Notes on the Form 7025  
The 7025 is used as an annual financial/materials on hand report and a transition report when there is a change in the FN, MA, FC and/or DCDR.    

Copies of the properly completed year end 7025 (plus any mid-year transitions that might have occurred) are due to your DCDR and SO-FN by January 31^st.    For the form to be properly completed, the form must include signatures of the preparer, approver, relieving officers (even if there is no change and they are the same officers) and the Audit Committee Chairman.    

Standing Rules require that an audit of the financial records be conducted on an annual basis and when the FN, FC, or DCDR changes.  At that time, an audit needs to be conducted by an individual(s) independent of the financial process.  Professional guidelines to ensure independence of such processes, as adapted by the AICPA, would exclude the DCDR, FC, VFC, FN and spouse/significant other of one of these officers from performing the audit.    If you committee needs assistance in performing the audit, please let me know as I have developed an audit program which covers the basis steps.   

Budget  
Standing Rules require that a budget committee be appointed before or at the January meeting.  The budget should be presented to the membership at a regular meeting and approved with the next 3 months.   

FN’s Report to Division / Flotilla
Standing Rules require regular financial reports be presented to the membership at each regular meeting.  The financial report should include all receipts and expenditures since the last report and the current fund balance.  As FNs and FCs, sometimes we need to remember that these funds belong to the membership and we are only the custodians.  If we are to maintain transparency in this process, regular financial reports are a necessity.    

Disenrollments / Annual Dues
Annuals dues are based upon the number of members on your roster as of 12/31.    
If you fail to provide properly completed disenrollments (Form 7035) to our DSO-HR,  there is a risk your flotilla will needlessly pay the dues for a member that you intended to disenroll.